Are you a landlord? Are you managing a rental property on behalf of landlords? Then, this rental property bookkeeping template should fit your business. It doesn’t just record financial transactions and map them into profit and loss statement, but it also summarize those transactions into a complete financial statements.
Those financial statements are profit and loss, balance sheet, cash flow and equity statements. You don’t need to understand accounting to generate those statements correctly. There are formulas work in the background that do those calculation for you.
And this rental property bookkeeping template is not just a bookkeeping template. It provides you modules to organize your rental property. Furthermore, It has tenant and owner tables, apartment room tables, monthly payment summary and more.
Rental Property Bookkeeping Features
If you are already using a rental property income and expenses template, this bookkeeping spreadsheet is an upgrade to that one. This rental property bookkeeping covers more than that simple income and expenses spreadsheet template.
Record tenant, room list and owner information
You can set rooms and their owners. Skip the owner table if you organize apartment for one owner or you are the owner. Add more columns for other important information you need to include.
Then, list your tenant. This apartment room rental bookkeeping is prepared to cover one year period. Set rental start and end date. Start date can be filled with dates before bookkeeping period. The formula will filter current year date automatically. Assign their rental room. There is a feature to change room. Just change room name for that tenant in particular month table. You might understand it after trying the Demo version below.
The tenant list table has a rent roll format. You can print it or use it with Rent Roll form (just copy and paste to that form) if you want to print and present it to your investors and landlord owners.
Dynamic Starting Date
Like my other bookkeeping spreadsheets, you need to set its fiscal period start date, company information, asset (your apartment is your asset) and other parameters. You can start from any dates.
Invoice & Cash Receipt
You can print invoice and cash receipt, or you can save it as pdf file for your archive.
Track Receivable and Payable
Track tenant receivable and owner payable. So, you will know when your tenant is due and how much money you owe to your owners. But, remember, you still need to update them in transaction modules.
Automated Financial Statements
Beside common financial statements, like profit and loss and balance sheet statements, you will also get a summary of tenant payment in monthly table. Furthermore, you will get summary of your property rental income and expenses.
This rental property bookkeeping template fits you who operate long term rental property business. If you are looking for a short term version, or combination between short and long term, you can use vacation rental property bookkeeping spreadsheet template.
Also, there several property reservation templates you can check in its author website.
Using Microsoft Excel to simplify your spreadsheet tasks is not as difficult as you think. I learned how to use it in less than 24 hours and rely on internet to find the solution if I got stuck. I am not an Excel expert, but here are all useful spreadsheets I have collected and created.